Alnylam Pharmaceuticals (NASDAQ:ALNY) Trading 7.1% Higher – Should You Buy?

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)’s stock price traded up 7.1% during mid-day trading on Monday . The company traded as high as $257.06 and last traded at $254.89. 351,702 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 515,574 shares. The stock had previously closed at $237.98.

Wall Street Analyst Weigh In

ALNY has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $400.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday. TD Cowen upped their price target on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the company a “buy” rating in a report on Monday, October 21st. Barclays upped their price target on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the company an “overweight” rating in a report on Friday, November 1st. William Blair restated an “outperform” rating on shares of Alnylam Pharmaceuticals in a report on Tuesday, November 19th. Finally, Raymond James upped their price objective on shares of Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $298.61.

Alnylam Pharmaceuticals Trading Up 7.8 %

The company has a debt-to-equity ratio of 31.64, a current ratio of 2.75 and a quick ratio of 2.69. The stock has a market capitalization of $33.10 billion, a PE ratio of -97.94 and a beta of 0.34. The stock’s 50 day simple moving average is $248.88 and its two-hundred day simple moving average is $259.75.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The company had revenue of $500.90 million for the quarter, compared to analyst estimates of $532.91 million. The company’s revenue for the quarter was down 33.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 earnings per share. On average, sell-side analysts expect that Alnylam Pharmaceuticals, Inc. will post -2.21 EPS for the current year.

Insider Activity

In other news, EVP Tolga Tanguler sold 1,469 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $368,689.62. Following the completion of the sale, the executive vice president now directly owns 13,191 shares of the company’s stock, valued at approximately $3,310,677.18. This trade represents a 10.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Yvonne Greenstreet sold 5,219 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $1,309,864.62. Following the completion of the transaction, the chief executive officer now owns 78,880 shares of the company’s stock, valued at approximately $19,797,302.40. The trade was a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,122 shares of company stock valued at $2,540,455. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in ALNY. Ashton Thomas Private Wealth LLC purchased a new position in shares of Alnylam Pharmaceuticals in the second quarter worth approximately $26,000. Huntington National Bank lifted its holdings in Alnylam Pharmaceuticals by 91.8% during the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 45 shares in the last quarter. Hollencrest Capital Management purchased a new position in Alnylam Pharmaceuticals during the third quarter valued at approximately $29,000. Washington Trust Advisors Inc. purchased a new position in Alnylam Pharmaceuticals during the third quarter valued at approximately $42,000. Finally, True Wealth Design LLC lifted its holdings in Alnylam Pharmaceuticals by 15,300.0% during the third quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.